From the very beginning, PCV has seen that the most difficult hurdle that most small businesses face is obtaining the capital necessary to grow. Bud and Penelope, always the forward-thinkers, tackled this problem and then some by creating an equity fund that invested in California companies that bring significant economic gains to lower-income employees as well as deliver exceptional financial returns to business owners and investors. This practice is now commonly known as impact investing, and has always been a part of the PCV identity. So much so, in fact, that an entire programmatic branch has grown dedicated to the idea of investing for intended social and/or environmental impacts!
The most unique thing about the investments that PCV made early on was the advisory that the small business owners received from not only investors, but from a larger network of PCV volunteer advisors. I recently read the welcome letter from Bud and Penelope in the 2000 PCV Annual Report, and even then there was interest and support for the unique services that PCV was providing to small businesses. As the equity fund continued to grow, we started talking about it in a different way. As it is today, Pacific Community Management is our affiliate fund, and they continue to make triple-bottom-line investments in California companies.
In 2012, a new source of PCV capital was made available to small business owners in the way of debt. The Small Business Advising Integrated Lending Fund (SAIL Fund) makes loans to high growth Bay Area businesses that create jobs and opportunities in lower-income communities. Recipients of SAIL loans work with advisors on everything from applying for the loan to properly deploying the capital. This approach gives small business owners guidance from senior level businessmen and women – guidance that will allow them to sustainable grow their businesses.
PCV has been helping small business owners gain better access to capital for the past decade and a half, and we’re passionate about doing so for the next 15 years and beyond! Find out more about our past, present and future at PCV’s 15 Year Anniversary Celebration on May 22. Click here for more info!